Zacks: Brokerages Anticipate PNM Resources Inc (NYSE:PNM) Will Announce Earnings of $1.18 Per Share

Wall Street analysts forecast that PNM Resources Inc (NYSE:PNM) will announce earnings per share of $1.18 for the current quarter, according to Zacks. Zero analysts have provided estimates for PNM Resources’ earnings. PNM Resources posted earnings per share of $1.29 in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.5%. The firm is expected to announce its next earnings results on Friday, November 6th.

On average, analysts expect that PNM Resources will report full-year earnings of $2.21 per share for the current financial year. For the next year, analysts anticipate that the business will report earnings of $2.28 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow PNM Resources.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The firm had revenue of $357.64 million for the quarter, compared to analysts’ expectations of $345.13 million. PNM Resources had a net margin of 11.57% and a return on equity of 10.72%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS.

Several research analysts have weighed in on the stock. TheStreet raised shares of PNM Resources from a “c” rating to a “b-” rating in a report on Monday, August 31st. Wells Fargo & Company upgraded shares of PNM Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 11th. Mizuho increased their target price on shares of PNM Resources from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Sidoti began coverage on shares of PNM Resources in a research report on Monday, September 21st. They set a “buy” rating on the stock. Finally, UBS Group increased their target price on shares of PNM Resources from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.89.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Balentine LLC acquired a new stake in shares of PNM Resources during the 1st quarter worth approximately $25,000. Cohen & Steers Inc. acquired a new stake in PNM Resources in the first quarter valued at approximately $26,000. Private Advisor Group LLC acquired a new stake in PNM Resources in the second quarter valued at approximately $63,000. Northwestern Mutual Wealth Management Co. boosted its position in PNM Resources by 29.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,104 shares of the utilities provider’s stock valued at $80,000 after buying an additional 474 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in PNM Resources in the first quarter valued at approximately $82,000. Institutional investors and hedge funds own 98.85% of the company’s stock.

PNM Resources stock traded up $0.78 during trading hours on Friday, hitting $40.97. The company had a trading volume of 321,993 shares, compared to its average volume of 599,967. The firm has a market cap of $3.26 billion, a PE ratio of 18.54, a PEG ratio of 3.79 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.26 and a quick ratio of 0.20. PNM Resources has a one year low of $27.08 and a one year high of $56.14. The firm has a 50-day moving average of $42.78 and a 200 day moving average of $40.62.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a dividend of $0.308 per share. The ex-dividend date is Friday, October 30th. This represents a $1.23 annualized dividend and a dividend yield of 3.01%. PNM Resources’s dividend payout ratio is 56.94%.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.

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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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